DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - What is wrong with Capitalism? is Capitalism haram?

**SoOW2LeA** · 06-09-2012, 10:25 PM

Now, capitalism is a human construct, it has many different schools of thought, and there are many views to consider. For instance, to give a crude example - America and the Scandinavian countries can both be considered as capitalist economies but they have fundamental differences on the issues of welfare, public service provision and taxation.

So to rule the whole idea of capitalism as ''haraam'' clearly shows the individual has no idea what they are talking about. But to make it ''Islamic'' by pretending the Quran or any of the other Scriptural sources clearly point towards capitalism is also wrong.

We can adopt any model as long as the ethical objective and moral impulse of the Noble Quran is satisfied.

Despite the many differences in Capitalisms (plural) there is essentially something that can characterise all the differences into one system which is why we give them the name Capitalist, otherwise we would say they were Socialist or Fascist. What makes them Capitalist? The answer is partly in the word Capital meaning something that produces more...something like money, or machines are known as Capital. Why is Capital given this primacy by Capitalists? Can a lump of Gold or Silver produce anything by itself? Can a suitcase full of dollars produce anything? The answer is no. It needs human labour and energy, but this is considered not significant, only Capital is King. Why? Capitalists or people who managed to gain influence in primarily Christian European countries gained the power to loan money or capital and charge interest on it...this gave them power over everybody else. They can print money at will and charge others to use it. This is why it is called Capitalist, even though we know that human energy is more important than capital. Capitalism is haraam because it practices Riba and is based on Riba. This is the central moral question.

06-09-2012, 10:25 PM	#36
SoOW2LeA Join Date Oct 2005 Posts 520 Senior Member	Now, capitalism is a human construct, it has many different schools of thought, and there are many views to consider. For instance, to give a crude example - America and the Scandinavian countries can both be considered as capitalist economies but they have fundamental differences on the issues of welfare, public service provision and taxation. So to rule the whole idea of capitalism as ''haraam'' clearly shows the individual has no idea what they are talking about. But to make it ''Islamic'' by pretending the Quran or any of the other Scriptural sources clearly point towards capitalism is also wrong. We can adopt any model as long as the ethical objective and moral impulse of the Noble Quran is satisfied. Despite the many differences in Capitalisms (plural) there is essentially something that can characterise all the differences into one system which is why we give them the name Capitalist, otherwise we would say they were Socialist or Fascist. What makes them Capitalist? The answer is partly in the word Capital meaning something that produces more...something like money, or machines are known as Capital. Why is Capital given this primacy by Capitalists? Can a lump of Gold or Silver produce anything by itself? Can a suitcase full of dollars produce anything? The answer is no. It needs human labour and energy, but this is considered not significant, only Capital is King. Why? Capitalists or people who managed to gain influence in primarily Christian European countries gained the power to loan money or capital and charge interest on it...this gave them power over everybody else. They can print money at will and charge others to use it. This is why it is called Capitalist, even though we know that human energy is more important than capital. Capitalism is haraam because it practices Riba and is based on Riba. This is the central moral question.
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